If You Call a GEICO Agent in the Middle of the Night

question 50

Multiple Choice

If you call a GEICO agent in the middle of the night to obtain insurance for your new automobile, you are covered as of the time of your conversation with the agent.Identify this authority of the agent.

• A)Duress authority
• B)Facultative authority
• C)Binding authority
• D)Waiver authority
• E)Estoppel authority

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Definitions:

Raw Materials

The basic, unprocessed resources or inputs used in the production of goods and services.

Labour

The human workforce involved in productive work, especially physical work, in an economy or for a specific project or company.

Profit Margins

measure the difference between the cost of producing a product or service and its selling price, expressed as a percentage of the sales price.

Maximum Amounts

The highest permissible or possible quantities or levels of something.